Petrobras on rating maintenance by Fitch

Petróleo Brasileiro S.A. – Petrobras announces that the rating agency Fitch affirmed the ”BB-“ issuer default ratings for Petrobras, with a negative outlook, reflecting the agency’s opinion on the sovereign’s ratings. Petrobras stand-alone credit profile was also affirmed at “bbb”, 4 notches above the sovereign.

Fitch highlighted the company’s strong capital structure, declining debt levels and strong cash flow generation. The agency also pointed out that it expects Petrobras to continue deleveraging in the future and to continue reporting positive free cash flow over the rating horizon.

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